Texas Pacific Land (NYSE:TPL) Reaches New 1-Year High at $959.50

Texas Pacific Land Co. (NYSE:TPL)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $959.50 and last traded at $959.50, with a volume of 1854 shares traded. The stock had previously closed at $952.13.

Analyst Ratings Changes

TPL has been the subject of several research analyst reports. BWS Financial reissued a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a research note on Monday, August 12th. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th.

Texas Pacific Land Trading Down 0.2 %

The stock has a market capitalization of $21.84 billion, a P/E ratio of 50.64 and a beta of 1.60. The stock’s fifty day moving average price is $828.69 and its two-hundred day moving average price is $702.14.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by ($0.38). The business had revenue of $172.33 million for the quarter, compared to analysts’ expectations of $182.35 million. Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. During the same quarter in the previous year, the company earned $4.35 earnings per share. As a group, analysts expect that Texas Pacific Land Co. will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $1.17 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a yield of 0.49%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 24.88%.

Institutional Trading of Texas Pacific Land

A number of institutional investors have recently made changes to their positions in TPL. Dimensional Fund Advisors LP boosted its position in Texas Pacific Land by 12.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 35,480 shares of the financial services provider’s stock valued at $55,798,000 after buying an additional 3,903 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Texas Pacific Land by 10.9% during the fourth quarter. Franklin Resources Inc. now owns 2,040 shares of the financial services provider’s stock worth $3,208,000 after purchasing an additional 200 shares during the period. Commerce Bank boosted its holdings in shares of Texas Pacific Land by 40.8% during the fourth quarter. Commerce Bank now owns 2,245 shares of the financial services provider’s stock worth $3,530,000 after purchasing an additional 650 shares during the period. Advisory Services Network LLC grew its stake in shares of Texas Pacific Land by 28.7% in the fourth quarter. Advisory Services Network LLC now owns 354 shares of the financial services provider’s stock worth $557,000 after purchasing an additional 79 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Texas Pacific Land by 5.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,685 shares of the financial services provider’s stock valued at $4,222,000 after purchasing an additional 129 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.